|
Target Information |
| Target: |
Van Deventer &
Hoch |
| City: |
Glendale |
State: CA |
| Type of Company: |
Investment
Management for High Net Worth Individuals |
| Financial Data As Of: |
03/31/01 |
AUM: $1.3
billion |
Net Income (LTM): Book
Value: $ |
| Target’s Business: |
Van Deveneter &
Hoch, founded in 1969 and privately held, is an investment management
firm specializing in investment and wealth management for high net worth
individuals and families, family offices charitable gift programs,
endowments and foundations. The firm manages over $1 billion in client
assets. |
|
Acquirer Information |
| Acquirer Name: |
Mellon Financial
Corporation (Mellon Private Asset Management) |
| City: |
Pittsburgh |
State: PA |
| Type of Company: |
Commercial Bank |
| Financial Data As Of: |
03/31/01 |
AUM: $2.8
trillion |
Net Income (LTM): $1.0
billion |
| Acquirer’s Business: |
Mellon Financial
Corporation is a global financial services company and one of the
largest providers of asset management services. Mellon has $2.8 trillion
in assets under management. Its asset management companies include The
Dreyfus Corporation and Newton Management Limited (U.K.). Mellon Private
Asset Management maintains approximately 30 offices nationwide. |
|
Transaction Information |
| Status: |
Pending |
| Announcement
Date: |
06/18/01 |
Accounting: N/A |
| Completion Date: |
Pending |
Consideration:
N/A |
| Deal Value: |
N/A |
| Price/Earnings: |
|
| 1 Day Premium: |
|
| Price/Book
Value: |
|
| Comments: |
The acquisition
of Van Deventer & Hoch will be the second on the West Coast for Mellon
Private Asset Management within the past 12 months. Last year, Mellon
acquired The Trust Company of Washington. Van Deventer & Hoch will add
approximately $1 billion in assets under management and administration
to Mellon Private Asset Management. Terms of the transaction, expected
to close in the third quarter 2001, were not disclosed. |
